Elizabeth Warren claims

[ConnerDalfino]

A six-month period has seen $80 million stolen from Crypto as a result of scams, claims Elizabeth Warren. Aside from the $11.11 Billion in fines US banks received for shady business, she neglects to mention the $12 Billion in overdraft fees consumers will pay to banks in 2020!

What is your opinion in this regard?

[LFC_Bitcoin]

She’s doing her job, she’s a government shill trying to protect the USD’s position as the world reserve currency. Don’t pay attention to or follow anything she advises or states. She’s part of a group of boomers desperately trying to save a crumbling fiat currency in a new world. Unfortunately for her & those in power, there’s only so much money printing that can be done before the arse falls out of the world.

Opt out & take control of your own financial future, protect yourself against their mindless money printing & subsequent unacceptable inflation by buying bitcoin. Control your own future & protect your family & future generations financial future.

Elizabeth Warren, Gary Gensler, Janet Yellen, Jerome Powell, they’re all fighting a losing battle. Bitcoin is a massive part of the worldwide future of finance. They will regret their attempted suppression of innovation. The US must adapt or get left behind.

[Kong Hey Pakboy]

They don't have any grounds to completely control or ban bitcoin so they just defame it to discourage the public from putting their money in it, my opinion is that they should remember that it's already 2021 and not the 70s because they still think that they're the smart ones in this day and age.

[Lucius]

@ConnerDalfino, since you didn’t put a news source, I can’t comment on anything more than that it’s completely frivolous when someone sees an $80 million as a problem, and turns their head the other way when it comes to the hundreds of billions or even trillions their authorities have spent (evidently in vain) in Afghanistan or Iraq.

Crypto scams are definitely a problem, but they are still very insignificant compared to classic scams, and can be very easily prevented if children start learning Internet safety in time, and to force everyone involved in the chain to tighten their safety measures - and I mean the app play stores, advertising, and those selling domains/hosting.

In addition, laws should be passed that will provide for much harsher penalties for all those caught in crypto scams. As things stand now, you can get away with very little or no punishment if you’re smart enough - it’s actually encouragement, not prevention.

[Jating]

A six-month period has seen $80 million stolen from Crypto as a result of scams, claims Elizabeth Warren. Aside from the $11.11 Billion in fines US banks received for shady business, she neglects to mention the $12 Billion in overdraft fees consumers will pay to banks in 2020!

What is your opinion in this regard?

$80 million is just a drop in the ocean resulting from crypto scams. Of course, they won't mentions about the scams that banks have been pulling in the last 6 months. They just want to highlight everything, specially negative. Nevertheless, bitcoin enthusiast are not affective by this kind of news, we know where they coming from and this kind of statement coming from any government agencies will simply not stop. So I would say, just shrug your shoulders if we read this kind of news.

[stompix]

@ConnerDalfino, since you didn’t put a news source, I can’t comment on anything more than that it’s completely frivolous when someone sees an $80 million as a problem, and turns their head the other way when it comes to the hundreds of billions or even trillions their authorities have spent (evidently in vain) in Afghanistan or Iraq.

Old news, it's about one of her letters that started the scandal with the SEC back in June-July
https://www.warren.senate.gov/oversight/letters/warren-asks-sec-chair-gensler-about-risks-posed-by-cryptocurrency-exchanges
Funny enough this one was the most innocent of all, she was claiming she was doing everything for the poor investors and consumers.
Anyhow, she's crazy, I think I've said it one hundred times but she is worse than Yellen and Gensler and the whole IMF, CIA, NSA alltoghter.

Of course, they won't mentions about the scams that banks have been pulling in the last 6 months.

You just have the same biased view as her, here you go:
Warren Slams Wells Fargo CEO, Calls on Fed to Revoke Bank’s Status as Financial Holding Company Amid Ongoing Failure to Meet Regulatory Requirements

Wells Fargo has a nearly two-decades-long record of swindling customers and the latest fine of $250 million imposed last week by the Office of the Comptroller of the Currency (OCC) for the bank’s lack of progress in addressing “significant deficiencies” in its mortgage lending practices indicates that the bank is incapable of correcting its culture of noncompliance and unlawful behavior.

She's not angry just at crypto, she is angry at banks, Facebook, Amazon, oil companies, landlords, police, ICE, she just wants free money for the ones that don't work and no barriers for refugees. In rest, it's all about opposition to everything, a classic populist way to get votes.

[ChiBitCTy]

A six-month period has seen $80 million stolen from Crypto as a result of scams, claims Elizabeth Warren. Aside from the $11.11 Billion in fines US banks received for shady business, she neglects to mention the $12 Billion in overdraft fees consumers will pay to banks in 2020!

What is your opinion in this regard?

Yeah this shit absolutely infuriates me. What is she doing about all of the fraud by big banks? Wells Fargo was fined a ridiculous amount of money for making fake account through it's clients two years ago and was just recently fined again for not making the clients whole, another 250 million! How many people are going to end up in jail? ... the answer is a big fucking fat zero! Hypocrites !

[mk4]

Aaand.. how much USD was been stolen through scams and fraud? I'd bet that it's a few multiples of $80 million. So.. we should ban the USD then?

[maju69]

She’s doing her job, she’s a government shill trying to protect the USD’s position as the world reserve currency. Don’t pay attention to or follow anything she advises or states. She’s part of a group of boomers desperately trying to save a crumbling fiat currency in a new world. Unfortunately for her & those in power, there’s only so much money printing that can be done before the arse falls out of the world.

Opt out & take control of your own financial future, protect yourself against their mindless money printing & subsequent unacceptable inflation by buying bitcoin. Control your own future & protect your family & future generations financial future.

Elizabeth Warren, Gary Gensler, Janet Yellen, Jerome Powell, they’re all fighting a losing battle. Bitcoin is a massive part of the worldwide future of finance. They will regret their attempted suppression of innovation. The US must adapt or get left behind.

Thank you for this advice, for adding to my belief in Bitcoin as the hope for our future and our next generation especially myself. Manage the mess he creates to change our consistency so that it falters and seems to justify what he says. He is a person who often manipulates the truth for the benefit of his own class and survival. But we can unmask the real, unmask a Warren.

[flip4flop]

It is ridiculous the amount of scrutiny that crypto draws from senior banking and SEC officials. Its ironic that over the past few decades that the US has had to spend billions of dollars bailing out banks to save them from collapsing under themselves due to bad practices and borderline illegal activity yet not a cent has been spent on any crypto support. Instead, they are spending billions of dollars trying to regulate and crush it. The same regulations that let banks act however they want.  Just another tool to keep people in line and limit the ability to change wealth distribution.

[odolvlobo]

She's not angry just at crypto, she is angry at banks, Facebook, Amazon, oil companies, landlords, police, ICE, she just wants free money for the ones that don't work and no barriers for refugees. In rest, it's all about opposition to everything, a classic populist way to get votes.

I believe she is looking to be the Democrat party version of Donald Trump.

[hatshepsut93]

Aaand.. how much USD was been stolen through scams and fraud? I'd bet that it's a few multiples of $80 million. So.. we should ban the USD then?

That's a really poor argument, USD is used for a huge share of all transactions in the world, while crypto is not even used much by people who own it.

And altcoin ecosystem is indeed full of scams, so it wouldn't be a bad thing if regulators created some rules for exchanges so they would stop listing new scamcoins as they pop up.

But Warren goes far beyond that, she just hates crypto and dreams about it getting banned and she keeps inventing arguments from different angles to try to persuade the government to do so.

[GreatArkansas]

They don't have any grounds to completely control or ban bitcoin so they just defame it to discourage the public from putting their money in it, my opinion is that they should remember that it's already 2021 and not the 70s because they still think that they're the smart ones in this day and age.

+1.
For me, what another alternative they can help is to support Bitcoin or not that so, do some awareneness about Bitcoin, educate people, giving free lessons. Tell people what are the risks of using Bitcoin and the negative or positive effects of it.
So other people will have the knowledge and can avoid scams in the cryptocurrency world, it will help even small, just to reduce the case of scams or fraud.

[Darker45]

To be fair, crypto is being called out, and quite legitimately. By pointing out the wrong in fiat as a response to somebody calling out the wrong in crypto, crypto gets nowhere. You cannot solve the problems of crypto by simply dismissing it. If for only half a year, and in a relatively smaller crypto community, $80 million is already stolen, it is indeed alarming. And it cannot be addressed by simply pointing a finger at fiat and saying it has a much bigger problem.

[pooya87]

You forgot about the trillions of dollars that the US banks are laundering for drug lords and other big criminals. Besides most of the stolen cryptocurrencies are from centralized exchanges that newbies keep trusting with their keys, if the DEX projects grew more (which they will as the government pushes for more KYC on CEXes) this number drops to practically nothing.

[Kittygalore]

You forgot about the trillions of dollars that the US banks are laundering for drug lords and other big criminals. Besides most of the stolen cryptocurrencies are from centralized exchanges that newbies keep trusting with their keys, if the DEX projects grew more (which they will as the government pushes for more KYC on CEXes) this number drops to practically nothing.

They won't tell you that or even acknowledge that, they're going to deny it no matter how obvious the shit that they're pulling is, they're the government so they know that they can do shit like this, their the biggest corporation in a country after all.

[mk4]

That's a really poor argument, USD is used for a huge share of all transactions in the world, while crypto is not even used much by people who own it.

Depends on what you actually mean with "using" crypto. It comes down to personal opinion: if you hold bitcoin for investment/hedging purposes, then merely doing nothing and just holding is considered "using".

And also with other cryptocurrencies: like them or not and while there's a lot of BS, the fact is, some people do use them. (yield farming, blockchain gaming, NFTs, etc)

[leea-1334]

A six-month period has seen $80 million stolen from Crypto as a result of scams, claims Elizabeth Warren. Aside from the $11.11 Billion in fines US banks received for shady business, she neglects to mention the $12 Billion in overdraft fees consumers will pay to banks in 2020!

What is your opinion in this regard?

I think although she claimed,,, she would have had to back it up from stats or the numbers were given to her from her minions So I think we do not have to argue about that. The problem is what else in fiat is either hidden or unreported, like what you said, the 12 B of overdraft people paid for nothing, which, by the way most of it is extremely unfair.

Both are scams,,, the only difference is overdraft is a legal scam.

[yazher]

They don't have any grounds to completely control or ban bitcoin so they just defame it to discourage the public from putting their money in it, my opinion is that they should remember that it's already 2021 and not the 70s because they still think that they're the smart ones in this day and age.

This kind of method is their main weapon back then they are using mainstream media to execute their plan to brainwash people with their claims. now they talking huge numbers to attract readers about their so-called research which has not been proven.

They wanted to cause confusion to the public or they wanted to get some attention with their hoax unique research. If you wanted to publish such news, you need to tell every source you got it from. no need to hide anything if you are truthful about your claim.

[lixer]

A six-month period has seen $80 million stolen from Crypto as a result of scams, claims Elizabeth Warren. Aside from the $11.11 Billion in fines US banks received for shady business, she neglects to mention the $12 Billion in overdraft fees consumers will pay to banks in 2020!

The government and the banks works together, so they will always do anything in favor of the banks. Since whatever is favoring the banks it's also going to be favoring the government as they will be getting something from it.

So, it shouldn’t be a surprise to you when you see them saying things in favor of banks and saying bad words that will ruin cryptocurrency. They will always talk about scams that are being carried out with cryptocurrency, but they are forgetting that there are lots of scammers that are carrying out their activities by making use of banks. scam has been occurring many years even before we thought of cryptocurrency.